Government keeps interest rates on Small Savings Schemes unchanged for Quarter-3 of 2021-22
- The government of India has announced that the rate of interest on Small Savings Schemes for the third quarter (Oct-Dec) of 2021-22 will remain unchanged as the last quarter (July-Sept) of 2021-2022.
- It must be noted that the Government notifies the Interest rates for small savings schemes on a quarterly basis.
- West Bengal is the highest contributor to the small saving schemes while Uttar Pradesh is the second top contributor.
Various Interest Rates for Quarter-3 (Oct-Dec) of 2021-22 are listed below:
S.No | Small Savings Scheme | Interest Rate |
---|---|---|
1 | Post Office Savings Account | 4% |
2 | 5-Year Post Office Recurring Deposit (RD) Account | 5.8% |
3 | Post Office Time Deposit (TD) Account – One Year | 5.5% |
4 | Post Office Time Deposit Account (TD) – Two Years | 5.5% |
5 | Post Office Time Deposit Account (TD) – Three Years | 5.5% |
6 | Post Office Time Deposit Account (TD) – Five Years | 6.7% |
7 | Post Office Monthly Income Scheme Account (MIS) | 6.6% |
8 | Senior Citizen Savings Scheme (SCSS) | 7.4% |
9 | 15-Year Public Provident Fund Account (PPF) | 7.1% |
10 | National Savings Certificates (NSC) | 6.8% |
11 | Kisan Vikas Patra (KVP) | 6.9% |
12 | Sukanya Samriddhi Account | 7.6% |
Points to remember:
- Interest Rate of various small saving schemes
- Top state contributing to the Small Savings Scheme?- West Bengal
Source: Business Standard